Wireless power transmission is a process that occurs in a system, where power source transmits electromagnetic energy to electric load with no wires. This wireless transmission transmits power to remote locations. Wireless power transmission has great demand in the consumer electronics, for example laptop, tablets, smartphones and other devices. Furthermore, the technology is rapidly being implemented in sectors such as defence and healthcare.
Application of wireless power transmission in the consumer electronics has contributed to the growth of this market. Tremendous growth in consumer electronics market in countries such as South Korea and Japan is driving the wireless power transmission industry. Rising need for battery powered equipment has resulted in the growth of the market. Furthermore, user awareness and limitations posed by battery technology are also driving the market.
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However, rising cost of wireless power technology is hampering the growth of the market. Issues associated with wireless power devices have triggered slow growth. Moreover, growing efficiency of power transmission is likely to create greater opportunities worldwide. Furthermore, automobile manufacturers including Honda, Nissan and Toyota Motors focusing more on electric charged automobiles, are likely to create greater opportunities.
World wireless power transmission market is segmented based on type, range, application and geography. The types covered during the study consists of devices with battery and devices without battery. In addition, the range assessed during the study includes short range and medium range. The applications assessed during the research includes consumer electronics, industrial, automotive, defense and others. Regions such as North America, Europe, Asia -Pacific and LAMEA are expected to witness tremendous growth.
The key market players active in the world wireless power transmission market are Energous, WiTricity, Fulton Innovations, Humavox, Murata Manufacturing, Wi-Charge, Ossia, Inc., UBeam, PowerbyProxi and Philips.
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